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20121205
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Search Results 0 to 6 of about 7
CNBC
Dec 5, 2012 6:00am EST
for government spending and you've got bloated government already, you start there. you start at government spending. you don't immediately start spending another 50 billion in stimulus. >> that's going to be the question that boehner has to deal with. the president will have to deal with the far wings of his party. boehner started doing it. did you see they removed two tea party members from the budget committee? >> i don't want to raise taxes to fund 25% of gdp. >> and actually, the american taxpayers are being told to pay their fair share. they want to see real entitlement reform as well. but you have to deal with the issue on the table. i mean, the spending right now is a percentage of gdp is 24%. it's projected to go substantially higher. do you know that medicare and medicaid didn't exist 50 years ago and they're now a quarter of the federal budget? >> i know. it was supposed to be supplemental. david walker was on the other day talking about obama care which is supposed to save us a trillion dollars and the actual cost, what it added the our entitlement is 12 trillion. jus
CNBC
Dec 7, 2012 6:00am EST
leading investment professionals predict a shorp stock decline in the market if the government fails to come up with a deal. in this case defined as a more than 10% drop in the dow. 56% surveyed foresee a deal to avoid the cliff by year end, 44% predict failure in the ongoing negotiations. as for corporate america, through yesterday's close, there have been # 70 announcements of special dividends. these special difference deebds are valueded a more than $30.1 billion. among the latest names, mcgraw hill will pay a special dividends of $2.50 a share before year end. and drop its previously announced plan to buy back up to $200 million more of stock this year. >> everybody's paid their dividends this year, so they won't be paying them next year. >> this is a major issue. what's going to happen is -- we have two great economists onset. but that money will get annualized, so the 30 in the gdp accounts is 120. they'll multiply it by four on the dividends income. it's quarter to quarter change at an annualized rate. so it's times four. there is the marginal propensity of those people
CNBC
Dec 6, 2012 6:00am EST
allege its capital would have fallen to dangerous levels that might have required a government bailout. a lot of people weren't marking things where needed to go. >> i have a lot of questions about this story. it's an amazing allegation. $12 billion in paper losses. >> a lawyer from one of the whistle blowers will join us at 6:50. in a statement to cnbc, the bank says that allegations have already been investigated and all accounting was proper. >> my biggest questions are the allegations say the bank was doing it 2007 to 2010 and nobody came forward until late 2011 to make any complaints. i just wonder if you had been complaining the whole time along -- >> we just had this discussion about how far away do you need to be to where it's a false mark. at least 10% wiggle room. there were no buyers. if there is buyers, does that make it zero. >> basel 2 created a system that if things became less liquid, there is no change in the actual value of of the underlying asset. just couldn't sell it. so it's a bit like saying my house is a lesser asset because i can't accept it right now even thou
CNBC
Dec 10, 2012 6:00am EST
monti's government last week. berlusconi has indicated he will run for leadership again. cnbc's carolin roth will join us from italy with the latest in a few minutes. when i was over there, i had to have the -- all the political signs translated because there's a picture of monti sitting under a beach chair drinking a drink and all the text was send monti to the beach. they already didn't like him. >> he had very high disapproval ratings. i remember last summer i had seen that somewhere. >> they want to send him to the beach. the major european averages at this hour, there they, they're all down. not great in france, but germany down about .7% and the ftse down fractionally. other news out of europe, debt tieback for from an day to receive additional buyback offers. those would be at deeply discounted prices and that would help lower the country's debt lead. >>> in asia, stocks touched a 16-month high and closed mostly higher on the session with good gains, as you can see, with the kospi up the most, 1.5 points. >> strong nebs out of china which suggest maybe the economy is rebounding m
CNBC
Dec 11, 2012 6:00am EST
to give to you. for four years after that, $182 billion buyback. the government offering more than $230 million in shares. the price represents a 2.6% discount. aig closed yesterday. it will raise $7.6 billion. in a statement, treasury's former chief reinstruct during officers jim millstien says no tax player should be pleased with the government had to rescue this company, but all taxpayers should be pleased with today's anounlsment ending the largest of the industry bailouts. but the way, that profit now looking to be about $15.2 billion and people did not expect that we would ever make money on in deal. i don't know if that makes the deal any better. i don't know if all of the anger and frustration that people have had, that people say, okay, we had a profit and we're okay with it. are you okay with it? >> i'm okay with it, yeah. i feel better. i know you haven't seen this movie, but "mr. smith on goes to washington." he said for so long -- >> where were you looking at on the screen? >> i was just reading it. i don't know. you guys of lost me on that last one. >> aig said et was
CNBC
Dec 13, 2012 6:00am EST
wants. because it's really masking the inability for us to govern. and the economy wouldn't even be doing 2% if it wasn't for the fed at this point. i think that's -- and that is -- >> politically if you're bernanke, the bronc thing to do or maybe the right thing to do for the country is to stop and say you guys over there figure it out. >> multiply by times 12 by three? >> the value is going to be $4 trillion in another year. that's about 25% of gdp. sounds like a lot. boj has more, ecb mass more. swiss national bank, way more. so i mean, there are no limits that we're approaching. so i wouldn't be shocked if a year from now we're here and we're talking about 4 trillion unemployment to a number that's even bigger. >> let's check on, you know, the markets which are like that boat. even after all this, we've got nothing. we're just trying to tread water and we're indicated down about 9 points on the dow. after it was all said and done yesterday, we're supposed to open higher. >> yes. >> i don't know what you said later on in your conference. did you do it? >> ray dalio made comments
CNBC
Dec 12, 2012 6:00am EST
overall, isn't it, 7%? more than 50% of those work for the government. >> 7% and more than that if you go up, like -- i think it's 16% if you include -- 13 if you include public, which is -- where it is. a contentious issue. they point to what happened in indiana. you know, more jobs, better -- better economy -- >> i think the -- >> the right-to-work states seem to be -- it seems to have been born out that it's better for the overall state. better for all the occupants in the state when you go to right-to-work. >> you got somebody in the white house who's a big friend of labor. and yet they are losing on the state level in a lot of places. >> and he named some comment -- made a comment. i can't remember how he characterized what right-to-work laws do. but it seemed like sort of an overstatement of what we're talking about. >> i guess the only other side is this old-fashioned collective choice view or free rider problem. if you want to pay dues, i get the benefits, i don't have to ride along. it's not like it's a completely one-sided argument. >> right. you know where your contributions
Search Results 0 to 6 of about 7